Country Club Bank Purchases 2,471 Shares of Bank of America Co. (NYSE:BAC)

Country Club Bank increased its position in shares of Bank of America Co. (NYSE:BAC) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,102 shares of the financial services provider’s stock after acquiring an additional 2,471 shares during the quarter. Country Club Bank’s holdings in Bank of America were worth $3,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC raised its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the third quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BAC shares. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a report on Friday, November 8th. Evercore ISI lowered their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Piper Sandler lowered their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Oppenheimer boosted their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Performance

Bank of America stock opened at $46.73 on Wednesday. The business has a 50 day moving average of $45.81 and a 200-day moving average of $42.79. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $358.57 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is presently 32.30%.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.